Fastest Growing Industries by Imports in Canada in 2025

1. Battery Manufacturing in Canada

Growth in Imports for 2025: 35.3%

The Battery Manufacturing industry in Canada has experienced strong growth in recent years; there is growing demand for batteries in various applications, including portable electronics, electric vehicles, and renewable energy storage. This has created opportunities for Canadian battery manufacturers to expand their operations and increase production. The Canadian government has made significant investments in the development and commercialization of battery technology, including funding research and development programs, providing tax incentives and supporting the growth of the electric vehicle industry. This support has helped to attract investment and create opportunities for Canadian battery manufacturers. Consequently, industry revenue is anticipated to grow... Learn More

2. Aluminum Manufacturing in Canada

Growth in Imports for 2025: 22.2%

Canadian aluminum manufacturers produce various aluminum products, ranging from alumina to finished aluminum sheets and foil. Aluminum is lightweight, ductile, corrosion-resistant, highly conductive and recyclable, making it useful in various applications. For instance, aluminum sheet is a major input into automobiles and airplanes, while aluminum foil and rolled sheet are commonly used in containers and packaging material. The United States accounts for nearly all exports, making domestic manufacturers highly dependent on international trade. IBISWorld projects industry revenue to increase at a CAGR of 7.8% to $24.8 billion through the end of 2023, declining 3.3% in 2023 alone. This growth can... Learn More

3. Sanitary Paper Product Manufacturing in Canada

Growth in Imports for 2025: 18.4%

The industry has experienced mixed results through the end of 2023, although the industry has ultimately grown in response to increased purchases of higher-value industry goods and rising prices. The industry purchases paper and converts it into consumer goods such as facial tissue, toilet paper, paper towels and tampons. Demand for these nondiscretionary items is typically stable, which helps to moderate revenue fluctuations, although the small size of the industry helps to increase its potential volatility, as any company entering or exiting the industry can have an outsize effect on overall performance. Through the end of 2023, the industry has... Learn More

4. Adhesive Manufacturing in Canada

Growth in Imports for 2025: 15.7%

Canadian adhesive manufacturers produce adhesives, glues, sealants and caulking components. These products have many uses, ranging from 3M's Post-it notes to roof shingling. The industry will expand through 2023, despite the pandemic forcing all nonessential businesses to shut down to help mitigate the spread. Also, declining residential and nonresidential construction value, one of the largest markets for adhesives, has constrained demand. Overall, revenue will expand at an expected CAGR of 1.1% to $1.0 billion through 2023, despite a 7.3% decrease in 2023 as interest rates constrain demand from construction markets.

Despite trade markets contracting during the pandemic, manufacturers have capitalized on... Learn More

5. Car & Automobile Manufacturing in Canada

Growth in Imports for 2025: 13.5%

The Car and Automobile Manufacturing industry in Canada has shrunk as many automakers have moved operations abroad. Dissuaded by high labour costs in Canada, many automakers have shifted investments toward Mexico and the United States. As a result, output has fallen from Canada's biggest car producers while remaining operations have increasingly focused on vehicle production that falls outside of the industry such as sport utility vehicles (SUVs). Exports have likewise decreased due to lower production capacity and temporary plant closures following the global semiconductor chip shortage. As a result, industry revenue is expected to fall at a CAGR 15.6% to... Learn More

6. Ship Building in Canada

Growth in Imports for 2025: 12.9%

The Canadian ship building industry will expand through the end of 2023. Ship builders build, modify, convert and repair ships, including warships, icebreakers, ferries and offshore platforms. Prior to the current period, this industry was troubled, competing with foreign builders while dealing with inconsistent domestic demand. In an effort to rebuild its navy and coast guard, the federal government launched the extensive National Shipbuilding Strategy (NSS) which effectively solved this problem. The industry was able to begin its expansion since most of these projects will take more than a decade. Still, the industry was not immune to the negative economic... Learn More

7. Soap & Cleaning Compound Manufacturing in Canada

Growth in Imports for 2025: 12.1%

Soap and cleaning compound manufacturing activity has risen in recent years as the pandemic drove demand for industry products. Industry companies have also benefited from growth in the Canadian population, which has increased purchases of household cleaning products. Rising production costs have contributed to manufacturers raising product prices in recent years, which has helped bolster industry profit. Industry revenue is projected to rise at a CAGR of 4.4% to $3.0 billion over the five years to 2023, including a forecast increase of 1.5% in 2023 alone.

Oil-based goods are primary inputs in soaps and detergents, while fluctuations in the world price... Learn More

8. Soybean Farming in Canada

Growth in Imports for 2025: 11.8%

Revenue for soybean farmers has grown because of growth in soybean prices and exports. Exports account for the majority of revenue, so fluctuations in international demand have an outsized impact on revenue. Growth in exports has largely been fuelled by growth of 28.0% in 2019, when exports to Iran grew by about 500.0%. Trade tensions between Canada and China have prevented further growth in exports. The Canadian government has criticized several social policies enforced by the Chinese administration. Canada has also supported its ally, the United States, in trade disputes with China. These events have resulted in exports to China... Learn More

9. Chocolate Production in Canada

Growth in Imports for 2025: 11.2%

Canadian chocolate producers transform raw materials, such as cacao beans, sugar and milk, into various products, including chocolate bars, stuffed chocolates and premium chocolate boxes. Demand has fluctuated due to strong disposable income, increased health consciousness and volatile input prices. Chocolate producers have benefited from greater demand for premium chocolates and steady export growth. Rising discretionary spending has bolstered chocolate producers considerably. Rising chocolate prices have weighed on demand in recent years, as major players bolster profit via more expensive chocolates. Industry revenue is expected to decrease at a CAGR of 1.2% to $2.6 billion through the end of 2023,... Learn More

10. Construction Machinery Manufacturing in Canada

Growth in Imports for 2025: 10.1%

Construction machinery manufacturers have faced declines over the current period as various downstream markets have been volatile. Manufacturers have enjoyed favorable trade conditions as the US dollar strengthening relative to the Canadian dollar pushed up exports and weakened import penetration. Overall, industry-wide revenue has been falling at a CAGR of 1.4% over the past five years and is expected to total $2.8 billion in 2023, when revenue will dip by an estimated 6.3% and profit will climb to 5.4%.

The outbreak of COVID-19 hammered various downstream construction markets. While lower interest rates spurred investment in the residential construction market, falling... Learn More